Asahi Group Holdings, the Japanese brewing and beverages giant, has picked Absa Bank Kenya PLC, ENS Africa, A&O Shearman and Nomura Holdings to advise on its USD 2.3 billion acquisition…
When veteran journalist Andrew Mwenda posted a video of weary passengers stranded at Entebbe International Airport, his words cut deeper than the images themselves. “The tragedy happening at Uganda Airlines…
Kenya Gov’t to Sell 15% Safaricom Stake to Vodacom in KShs 241 billion (UGX 6.5 Trillion Deal) The Kenyan government Kenya has officially begun the process of selling a 15…
They say actions speak louder than words, and with Paloma Lengema at the helm, BIC’s impact is clear, sharp, bold, and lasting like the iconic Cristal pen. Rising through BIC’s…
When Dr. Layi Fatona took the stage at the Stanbic Bank East Africa Economic Summit in Kampala, there was a certain stillness in the room — the kind that precedes...
Airtel Africa, a leading provider of telecommunications and mobile money services across 14 African countries, has partnered with three internationally renowned African artistes, Fally Ipupa (Democratic Republic of Congo), Diamond Platnumz (Tanzania), and Simi (Nigeria) to engage customers on how to enhance their digital experience by making the most of their data bundles. Through this collaboration, Airtel Africa aims to enable customers to make informed decisions about their data usage habits. The artists have collaborated with Airtel Africa to create a special song to provide customers with practical tips and tools that will help them to maximise their data for…
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Uganda, a major recipient of America’s foreign aid, could find herself in a tough position after the 47th President of the United States of America, Donald Trump issued an executive order halting all foreign development assistance pending review in a manner that aligns, and is consistent with Trump’s new government priorities. “The United States foreign aid industry and bureaucracy are not aligned with American interests and in many cases antithetical to American values. They serve to destabilize world peace by promoting ideas in foreign countries that are directly inverse to harmonious and stable relations internal to and among countries,” the…
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Cooper Motors Corporation (CMC) Holdings, the parent company of CMC (Uganda) Limited has announced its decision to gradually wind down operations in Uganda, Kenya and Tanzania, in full compliance with local regulations and distributorship agreements. Cooper Motors was acquired by the Al-Futtaim Group in 2014 and has other trading subsidiaries owned by CMC Holdings Ltd including: CMC Motors Group Limited (Kenya) Ltd. Hughes Motors (Tanzania) Ltd, Kenya Vehicle Manufacturers Ltd (33% Shareholding). The motor company was a leading player in the East African motor industry with exclusive distribution of New Holland tractors with an extensive range of farming implements from…
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Rwandan President Paul Kagame has tapped Jean-Guy Afrika, a fellow Rwandan seasoned economist who spent over a decade at the African Development Bank, to lead the Rwanda Development Board (RDB) as the new Chief Executive Officer. RDB is a government institution, under the supervision of the Office of the President, mandated to accelerate Rwanda’s economic development by enabling private sector growth. Before his appointment as new CEO of RDB, Jean-Guy worked as the Director of the Regional Integration Coordination Office at the African Development Bank Group, with a special advisory role to the senior management on regional integration and resource…
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As Rwanda solidifies its position as a key financial hub in East Africa, the establishment of trusts has become an increasingly relevant topic for both individuals and businesses. The introduction of Law N° 120/2021 of 16/01/2021 Governing Trusts (the “Trust Act”) has provided a comprehensive framework for the creation, management, and dissolution of trusts in Rwanda, opening new avenues for wealth management, asset protection, and estate planning. Types of Trusts and Key Parties This new legal framework recognises several types of trusts, including express, resulting, constructive, charitable, and private purpose trusts. Understanding these different types is critical for choosing the…
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Extensive progress has been made on the East African Crude Oil Pipeline (EACOP) project, with the construction of a high-tech oil export terminal in Tanga – Tanzania, attaining crucial targets. The facility, a cornerstone of the 1,443-kilometer pipeline linking Uganda’s Lake Albert oilfields to Tanzania’s Indian Ocean coast to access international oil markets, is designed to position East Africa as a key player in global energy markets. Ambassador (Rtd.) Col. Fred Mwesigye, leading a delegation from the Ugandan High Commission in Tanzania and the Petroleum Authority of Uganda (PAU) on a tour of various EACOP facilities in Tanzania, praised the…
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The Uganda Chapter of the East African Business Council (EABC) has reaffirmed its commitment to fostering regional economic integration, with the election of new representatives during the Chapter’s Annual General Meeting held at the PSFU Boardroom in Kampala. The meeting brought together key stakeholders from Uganda’s private sector, underscoring the country’s dedication to advancing trade and investment within the East African Community (EAC). The election was officiated over by PSFU Chair, Mr. Humphrey Nzeyi, who urged the Directors to fully dedicate themselves to representing the interests of Uganda’s private sector on the regional, continental and global stage. The newly elected…
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Against a backdrop of continued macroeconomic headwinds of high interest rates and volatile exchange rates across the markets that the Group operates in, Equity Group Holdings Plc (EGH) continues to demonstrate resilience, with regional businesses contributing 51% of profit before tax and 48% of total assets to reach Kshs.1.7 trillion as of 30th September 2024. The Group, which has been named the top financial brand in Africa and the 2nd strongest bank Brand in the world by Brand Finance and backed by its motto of ‘’Growing Together in Trust’’, has seen its deposit franchise grow 9% year-on-year to Kshs.1.3 trillion,…
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In Uganda, agriculture is the leading employer of the country’s largest labour force. In FY 2022/23, agriculture accounted for about 24% of GDP and 35% of export earnings. The Uganda Bureau of Statistics (UBOS) estimates that about 68% of Uganda’s working population is employed in agriculture. Uganda produces a wide range of agricultural products, including coffee, tea, sugar, livestock, fish, edible oils, cotton, tobacco, plantains, corn, beans, cassava, sweet potatoes, millet, sorghum, and groundnuts. As agriculture continues to anchor the economy and sustain millions of livelihoods, Yara East Africa has emerged as a transformative force in the region’s farming landscape….
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In a move that sparked widespread controversy, the Kenyan government recently announced a $2.047 billion deal with Adani Airport Holdings Ltd., an Indian conglomerate founded by Gautam Adani, to expand and operate the Jomo Kenyatta International Airport (JKIA) for 30 years. The deal, known as a “build, operate, transfer” agreement, would see Adani invest in upgrading the airport’s infrastructure, including constructing a new passenger terminal, improving taxiways, and potentially building a second runway. The agreement was approved by the Kenya Airports Authority (KAA) despite experts advising the government to put out a public tender for the expansion project. Instead, the…
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